DP Bulletin: NDX Loses Its Short-Lived BUY Signals


The DecisionPoint Scoreboards were blemished by the loss of the green BUY signals on the NDX. The weekly PMO on the Dow has been holding out for awhile, but it is rising suggesting momentum is still positive in the intermediate term.

Not to be alarmist, but the NDX has reached a support level that it needs to hold. A breakdown would mean a loss of not only that support level, but also the loss of the rising bottoms trendline. The ST Trend Model Neutral signal was triggered when the 5-EMA crossed below the 20-EMA while both were above the 50-EMA. Had they both been below the 50-EMA it would've been a sell signal. The PMO SELL signal arrived yesterday when the PMO sailed below its signal line.

Technical Analysis is a windsock, not a crystal ball.

Happy Charting!
- Erin

Helpful DecisionPoint Links:

Erin's PMO Scan

DecisionPoint Shared ChartList and DecisionPoint Chart Gallery

Trend Models

Price Momentum Oscillator (PMO)

On Balance Volume

Swenlin Trading Oscillators (STO-B and STO-V)


SCTR Ranking

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Erin Swenlin
About the author: helped create and manage the website alongside her father, Carl Swenlin. Together, Erin and Carl launched the DecisionPoint daily blog in 2009. She hosts the MarketWatchers LIVE web show at, and is also a Member of the CMT Association. Learn More
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